Banks Due diligence Home sale contingency Inspection contingency 
Realty Biz
FEBRUARY 20, 2021
The home buying contingencies below should be completely understood before signing on the dotted line of a purchase and sale agreement. Home inspection: often called a due diligence contingency, will give the buyer rights to have the house inspected.
HomeLight
OCTOBER 30, 2020
A cash deal can close in as little as 7 days, while financed home purchases tend to take an average of 45 days to close. And if you add a home sale contingency into the mix (that is, if you need to sell your current home before you can buy a new one), closing the deal can take even longer. Because it’s fast.
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HomeLight
SEPTEMBER 10, 2022
Say you’re visiting yard sales on a Saturday morning and you come across the perfect wicker patio set, exactly what you’ve been looking for. You offer the owner $200 but explain you don’t have the cash with you and that you need to run by the bank. An inspection contingency.
HomeLight
JULY 29, 2022
Otherwise, you can arrange for a wire or bank transfer of funds that gets to the closing agent early (most likely via the title company). We do all the due diligence upfront,” he says. Problem: You have a home sale contingency — and your house hasn’t sold. Don’t worry: You will be refunded any extra.
HomeLight
MARCH 13, 2023
Reiner advises asking for proof of funds such as a bank statement to ensure the buyer has sufficient resources to close the deal. Otherwise, instead of a speedy sale, you could lose valuable time if you have to search for a new buyer. The buyer does due diligence during the option period in Florida.
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